Inflation and taxation are increasingly eroding the real value of household savings and long-term investment across Europe. Even when financial markets perform well, many retail investors struggle to preserve purchasing power, as tax systems often levy nominal returns without adequately accounting for inflation, cross-border investment barriers or the long-term nature of savings. As a result, taxation has become a key determinant of investor outcomes, retirement adequacy and confidence in Europe’s capital markets.

Recent research highlights the scale of the challenge. BETTER FINANCE analysis shows that long-term savers frequently face weak or even negative real returns once inflation, costs and taxation are taken into account, affecting not only pensions but also savings and investment accounts more broadly. These outcomes are compounded by fragmented tax regimes, double taxation risks and complex withholding tax procedures that particularly disadvantage retail investors and hinder cross-border investment.

Against this backdrop, BETTER FINANCE, together with its member organisation the Icelandic Savers Association, is organising the:

International Investors’ Conference

Protecting Purchasing Power: Taxation and Long-Term Investment in EU Capital Markets

Date: 18 June 2026 | Time: 13:30 – 18:30 | Location: Harpa Concert Hall and Conference Centre, Reykjavík + ONLINE

The conference will examine how the taxation of savings and investment interacts with inflation, market structures and regulation, and how tax policy can better support long-term investment, fairness for investors and the development of integrated capital markets.

Through keynote addresses, the presentation of original research and a high-level panel discussion featuring European and international experts, the conference aims to contribute to an evidence-based policy debate on aligning fiscal and regulatory frameworks with Europe’s long-term savings, investment and capital markets objectives.

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Programme

13:30 – 14:00 | Registration and Welcome Coffee

14:00 – 14:10 | Opening Remarks

🔹 Welcome address and introduction:  the relevance of taxation for household investors, savings and long-term investment in Europe and Iceland

14:10 – 14:30 | Keynote Address: Taxation, Savings and Long-Term Investment in Europe

🔹 Taxation of savings and investment accounts
🔹 Current and forthcoming EU policy initiatives
🔹 Implications for retail investors and capital markets integration

14:30 -15:00 | Presentation: BETTER FINANCE Research on Taxation

🔹 Taxation research overview
🔹 Taxation of savings, pensions and social benefits
🔹 Taxation of negative financial income (real returns after inflation)
🔹 Key findings and policy recommendations

15:00 – 15:30 | Coffee Break

15:30 – 16:50 | High-Level Panel Discussion: Taxation, Savings and Fairness for Investors

🔹 Taxation of savings and pensions across jurisdictions
🔹 Claiming of withholding taxes and double taxation issues
🔹 Cross-border investment barriers for retail investors
🔹 The impact of inflation on real investment returns
🔹 The role of taxation in supporting long-term savings and capital markets

16:50 – 17:10 | Keynote Address: Taxation, Capital Markets and Investor Confidence

🔹 Long-term investment, savings mobilisation and capital markets development
🔹 The interaction between taxation, regulation and investor trust

17:10 – 17:20 | Closing Remarks

17:30 – 18:30 | Networking Reception